OKX-Linked MANTRA (OM) Crash Wipes $6B: What Happened and What’s Next?

MANTRA (OM), a real-world asset token, experienced a catastrophic 95% price crash within hours, erasing over $6 billion in market capitalization. The collapse left many investors devastated, with some losing life savings. Notably, three days prior to the crash, a group of large OM holders transferred 14 million tokens (worth ~$91 million) to OKX exchange. The price plummeted from $6.17 to $0.42, raising questions about potential market manipulation and the project’s future. As of April 2025, no clear recovery plan has been communicated to OM holders.

Mantra Crypto Crash: What Holders Should Know

MANTRA, the Real-world asset token (OM), crashed by 95% in a few hours, wiping out over 6 billion in market cap. Many investors lost most of their money, including life savings. Three days before the crash, a group of big OM holders moved over 14 million OM tokens worth around $91 million to the OKX exchange. The price dropped from $6.17 to only $0.42. It is unclear what the next steps are for Mantra (OM) holders, and there is no information on what the Mantra team has announced for their holders.

Mantra’s OM Token Plummets 92%, Sparks Panic Across Crypto Market

The OM token, native to the Mantra blockchain, crashed by 92% on Sunday, dropping from $6.33 to $0.71. This wipeout resulted in a loss of over $5 billion in market capitalization. Trading activity surged 3186% over the past 24 hours. SpotOnChain data shows that large holders transferred 14.27M OM to OKX days before the crash. The steep decline triggered significant liquidations across the market, totaling $74.51 million within 24 hours. The Mantra team responded, claiming the crash was due to “reckless liquidations” and assured that internal token control remains intact.